The benchmark interest rates were lower today with the 10-year note yield hitting 3.170 percent (see benchmark chart below). Another big benchmark, the 6-month LIBOR (London Interbank Offered Rate) rate, was down to 0.40875 percent. Other LIBOR rates were lower with the exception of the 1-year LIBOR. The Prime Rate remained steady today.

Citibank also popped their rate above five percent too. Their loan rate was up eight points to 5.04 percent.

U.S. Bank raised their 30-year rate four basis points to 4.60 percent. Their 30-year VA financing jumped 26 points to 5.10 percent and their FHA loans were 13 points higher to 4.97 percent.

15-Year FRM and 5-Year ARM

The average 15-year fixed mortgage rate increased five basis points.

U.S. Bank offers both 20-year and 15-year mortgages. The bank raised both of those products today. Their 20-year rate was up one point to 4.47 percent and their 15-year loan jumped 11 basis points to 4.01 percent.

The average 5/1 adjustable rate mortgage (ARM) was up one basis point to 3.156 percent today.

Jumbo Loans

In most states jumbo loans exceed $417,000.

The average 30-year jumbo mortgage rate jumped seven points to 5.160 percent. The average 15-year jumbo was eight points higher to 4.290 percent.

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